Often your HR person is also your benefits, recruitment, training, organizational development, problem resolution and party planning resource. Even though pay is just a small part of an HR professional’s expertise, your company should have access to the same experience and expertise as the larger companies you compete with. Why should your company be at a disadvantage? Consider the following:
Liz, a CEO at a quickly growing company wants to make sure her company is paying its staff competitively. Her VP of HR / Office Manager, Tom, has been great at his job, but is swamped with other critical projects. Tom has also told Liz that he hasn’t had a ton of experience in dealing with compensation issues.
The company wants to pay its staff fairly. It also wants to make sure that pay levels are in line with the returns delivered to its owners and investors. There have also been rumblings that some of the key staff members and executives being heavily recruited by a rival company.
The company determines it needs some help. The big consulting firms are over priced, have limited experience with smaller companies and give their best resources to their larger clients. Local consulting firms are focused on tactical issues and the company really needs a strategic approach that will evolve as the company continues to grow. The company wants to find a partner who can move them forward while respecting their unique culture.
How can Performensation help?
We align pay with corporate strategy and culture. We talk to your stakeholders to learn how the feel about their pay and its overall impact on their motivation and retention. Even for the most immediate projects, we discuss long-term goals to determine how to evolve your compensation programs to better meet your needs. We review your pay levels and compare them to market data and best practices. And, we provide recommendations on how to pay and provide the support needed to make the changes required.
It sounds simple because it is. On our side, we have decades of experience. We are passionate about pay. We understand both the art and science it takes to build compensation programs that are custom fit to your needs. Even better, we can provide the long-term support to ensure your compensation evolves with you.
Many companies ask us to help create a “compensation philosophy”. This provides a road map for base pay, short-term incentives (like bonuses and commissions) and long-term incentives (like equity compensation and deferred compensation.) Another common request is for the design of the incentive plan itself. More than just pay level experts, we can craft the structure and plan language that aligns your staff to short-term goals or long-term events like an acquisition or IPO.
Your Budget, Goals and Culture
Most importantly, we design an approach to pay that fits your budget, goals and culture. We assist with board and employee communications. We also provide a unique outsourced compensation support service that provides access to our compensation pros at a very affordable flat monthly rate.
Small companies are nimble, innovative and hard working. Their compensation consultants should be the same. Performensation is your pay solution.